Sri Lanka Is Facing An Energy Catastrophe
Sri Lanka is suffering through both an economic and energy crisis, with foreign exchange reserves at a record low and fuel supplies set to run out at any moment. The Continue Reading
Sri Lanka energy minister warns petrol stocks about to run dry
Sri Lanka’s energy minister has issued a stark warning over the country’s fuel stocks as it faces its worst economic crisis in more than 70 years. On Sunday, Kanchana Wijesekera Continue Reading
Sri Lanka Is Put on Virtual Lockdown as Fuel Supplies Are Halted
Sri Lankan citizens were put on a virtual lockdown amid a crippling sovereign debt crisis that’s left the South Asian nation with no fresh fuel supplies. The island nation’s cabinet Continue Reading
Sri Lanka is open to buying Russian oil, PM tells AP
Sri Lanka may be compelled to buy more oil from Russia as the nation faces shortages amid an unprecedented economic crisis, its prime minister told the Associated Press. Prime Minister Continue Reading
Sri Lanka appeals for farmers to plant more rice as food shortage looms
Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday, as experts warned of a 50% Continue Reading
Sri Lanka Inflation Jumps Close to 40% as Shortages Persist
Sri Lanka’s headline inflation quickened more than expected in May amid continuing food and fuel shortages, even as the country struggles to lift itself out of its worst economic crisis. Continue Reading
Sri Lanka’s fuel, gas shortages set to ease, central bank governor says
Sri Lanka’s central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, as the prime minister Continue Reading
Sri Lanka Can’t Find Cash to Pay Even One Ship for Petrol
Sri Lanka asked citizens not to queue for gasoline as the nation on the verge of default has no dollars to pay for a fuel shipment. “There is a petrol Continue Reading
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials Continue Reading
Sri Lanka buys coal from Russia’s SUEK at a discount, sources say
Sri Lanka has bought coal from the Singapore unit of Russian coal trader SUEK AG and will pay in U.S. dollars, two senior officials said, as it looks to address Continue Reading
Sri Lanka shuts only oil refinery to manage forex crisis
Sri Lanka has temporarily shut its only oil refinery as part of efforts to manage dwindling foreign exchange reserves, the energy minister said on Tuesday, triggering long queues at petrol Continue Reading
IOC chartered fully laden VLCC still on fire; eight ships in salvage operations: Sri Lankan navy
The fully laden Indian Oil Corp., or IOC, chartered super tanker is still on fire, and eight ships and tugs are trying to salvage the cargo and prevent an oil Continue Reading
The Latest Battlefield In Asia’s Energy War
Last week, Chinese President Xi Jinping reportedly offered Sri Lanka a new grant of 2 billion yuan ($295 million). According to media reports, Sri Lankan President Maithripala Sirisena made the Continue Reading
Sri Lanka Looks To Pay For Iranian Crude With Tea
Sri Lanka will pay down its oil debt held by Iran with tea in response to new regulations that Sri Lanka has issued in order to comply with a UN Continue Reading